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The distinct revival of demand for
vehicles of all categories and the sus-
tained rise in production have once
again been confirmed by SIAM’s lat-
est assessment of the auto sector pros-
pects. The statistical details released
by SIAM reveal an overall vehicle
production growth of 13.83 per cent
during March-April 2012 as compared
to the same period last year. The indus-
try produced an aggregate 20,366,432
vehicles during 2011-12, of which the
share of two-wheelers and passenger
vehicles were 76 per cent and 18.20
per cent respectively and that of three-wheelers and CVs four per cent
each. Vehicle sales were on the increase all along, and the only segment
that lagged behind was three-wheelers, sales of which dipped by 2.3 per
cent. Overall automobile exports at 2,950,055 units reflected a handsome
growth of 25.44 per cent.
The performance of the Indian auto industry is considered exceptional
in view of the fact that individual economies across the world, both devel-
oped and developing, are still reeling under the impact of the general US
slowdown and the EU debt crisis. However, India and China, with their re-
silient economy, have not merely weathered the situation but keep attract-
ing overseas attention as emerging global auto powers. With economic
fundamentals remaining strong, the two were perhaps the first to come out
of the worldwide recession of 2008. The Indian auto industry has also the
distinction of having registered double-digit growth for three years in a
row immediately preceding the recession when even the industry in West-
ern nations reported neglible or nil growth.
Of course, the industry is now beset with certain unavoidable adverse
factors like the irksome rise in world crude prices that leads to periodic
increase in auto fuel prices and the Government move to deregulate diesel
prices. Of immediate concern to the Government are the threat by oil mar-
keting companies (OMCs) to raise petrol prices unless offered a price sub-
sidy and cut in excise, the truckers’ resentment of the decision to deregu-
late diesel prices, and the hike in prices announced by car manufacturers,
one after another, in view of the higher excise burden. All this however
won’t impede growth, and the Indian auto industry would remain a major
attraction, with several MNCs having already set up plant and others wait-
ing in their wings to enter the market.
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Edited & Published by R. Natarajan on
behalf of Gopali & Co., Quanta Zen Building,
No.38, Thomas Road, 2nd Street, T.Nagar,
Chennai-17, and Printed by B. Ashok Kumar
at Rathna Offset Printers, 40, Peters Road,
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Editorial
www.motorindiaonline.com
All’s well that ends well
R. Natarajan, Managing Editor & Publisher
MOTORINDIA
8
MOTORINDIA
l
May 2012